FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Wednesday July 31, 2024.

With the appearance of the Bullish 123 pattern followed by the Bullish Ross Hook (RH) coupled with confirmation of the deviation signal between the movement of the Gold commodity asset price with the MACD Histogram indicator, in the near future Gold has the potential to strengthen where the level of 2415.03 will try to be broken and if it is successfully broken upwards then the level of 2429.05 will be the next target and if the volatility and momentum support it then Gold has the potential to continue its strengthening to the level of 2450.89 but with the note that during its journey to the targets of these levels there is no significant weakening correction until it breaks below the level of 2352.80 because if this level is successfully broken, then all the strengthening scenarios that have been described previously will become invalid and canceled by themselves.

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